FullTimeTrader
Short

USDJPY-looking for and ideal re-entry-Convergence Divergence

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
683 5 19
After today's strong USD rally im looking for an ideal setup for a correction and enter short.
We see price broke long term trendline support and is testing it, forming first convergence visible on AO oscillator.
The ideal retracement would be the 0.61 fib and the long term level of S/R (RED). I will place sell limit orders there.
We have also a bearish shark on H4 chart (see below)
snapshot
Regards

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
We all are here to learn sharing ideas, have fun and improve our performance.



In my opinion it'll cut straight down.
Wave 1 high per neowave here:

snapshot
Reply
FullTimeTrader IvanLabrie
Hello, im expecting just one more leg down, same as SPX 500. Lets see what happens, anyway, this should be a good trade.
Regards
Reply
IvanLabrie PRO FullTimeTrader
Right, based on your count, this being a 4th's C down?
Reply
FullTimeTrader IvanLabrie
Yes, just published the SPX500 idea now....
Reply
yes its good idea....i agree with u.
Reply
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